LONG BEACH, CA, November 10, 2003 -At EHX 2003 (Booth #1006), Marantz America is reaffirming its position as a leader in high -performance home entertainment products, demonstrating two new advanced -technology home theater receivers, including the breakthrough SR7400, the world's first A/V receiver to include Dolby Pro Logic IIx surround processing, as well as the Model SR6400, which offers a host of improved features, performance and value compared to the previous models.

In addition to its Dolby Pro Logic IIx capability, the SR7400 provides 7.1 -channel operation and component video upconversion for all video sources. Both the SR7400 and SR6400 also feature new TruSurround Headphone virtual surround sound technology.

The SR7400: The Latest Advances in Home Theater Receiver Technology
Engineered from the ground up to deliver extraordinary sound quality and installation flexibility, Marantz's 7.1 -channel SR7400 is the world's first A/V receiver to include the new Dolby Pro Logic IIx surround sound processing. Dolby Pro Logic II provides a natural, immersive, full -range 7.1 -channel listening experience from stereo and 5.1 -channel -encoded sources, thanks to proprietary processing algorithms that deliver a highly realistic, seamless and expansive 7.1 -channel sonic environment. Stereo sources can be processed to either 6.1 or 7.1, while any 5.1 -channel program source can be processed to deliver 7.1 -channel sound.

Dolby Pro Logic IIx is also fully compatible with Dolby Surround Pro Logic technology, and can optimally decode Dolby Surround -encoded videocassettes and television programs with enhanced depth and spatiality.

The SR7400 is compatible with all popular 7.1 -, 6.1 - and 5.1 -channel surround sound formats such as Dolby Digital EX, Dolby Pro Logic II, DTS ES -Discrete, DTS Matrix, DTS 96/24 and Circle Surround 2, and is one of the world's first receivers, along with the SR6400 and SR5400, to include TruSurround Headphone technology from SRS Labs. Thanks to its proprietary processing algorithms, TruSurround Headphone delivers a realistic surround sound listening environment while listening through stereo headphones.

The SR7400 provides additional listening modes such as 7.1 -Channel Stereo, which routes the left and right channels of a stereo audio source to all the speakers in a 7.1 -channel system without artificial ambience processing, and Marantz's HT -EQ Home Theater Equalizer circuit, which compensates for the overly bright sound quality of some DVD movie soundtracks that were not properly re -equalized for the home listening environment.

Like all the new Marantz receivers, the SR7400 is engineered for superlative sound quality, featuring 24 -bit/192kHz D/A converters on all channels along with the latest Cirrus Logic CS49400 32 -bit DSP processor, for maximum resolution, dynamic range and channel separation, and comprehensive bass management facilities with multiple crossover points. The SR7400 provides a massive 105 watts x 7 power output for authoritative, effortless reproduction of movie soundtracks and music. Its newly developed discrete current -feedback amplifier design enables the receiver to deliver a minimum of 70 percent of its two -channel power rating when operating into all seven channels simultaneously -a far more robust "real world" specification than competitive receivers can deliver.

The Marantz SR7400 provides a wide array of digital and analog audio and video inputs, outputs and switching facilities, including dual wide -bandwidth, HDTV -compatible component video inputs that operate with time base correction (TBC), enabling total compatibility with all types of fixed -pixel display devices such as plasma monitors and DLP projectors. Many competitive receivers do not include this feature, and component video signals cannot be routed through such receivers and displayed on a fixed pixel device. The SR7400 also upconverts all composite and S -Video signals to component video output, greatly simplifying the required connections in home theater systems using a display device with component video inputs. In addition, the receiver includes an RS -232C connection, remote in/out ports and DC triggers, facilitating operation in custom installations featuring integrated system control; the RS -232C connection also enables future performance upgrades via software downloads.

The SR7400 offers a wealth of additional performance and convenience features, such as 8 -channel direct inputs to accommodate universal, DVD -Audio and SACD players, a precision FM/AM tuner with 30 -station preset tuning, multi -room operation, Source Direct and Pure Direct functions for maximum sonic purity during audio -only listening, a multi -language on screen menu display and much more. The receiver is supplied with Marantz's new RC1400 Programmable Learning Remote Control, a slim and versatile remote that provides total control of a complete home entertainment system.

The Marantz SR7400 Home Theater Receiver will be available in November 2003 at a suggested retail price of $999.

The SR6400: Upgraded Performance and Flexibility
The Marantz SR6400 6.1 -channel digital surround receiver is significantly upgraded from its predecessor (SR6300) to offer an exceptional combination of high -end performance, features and operational flexibility. It delivers superlative sound quality, thanks to technologies such as 32 -bit DSP processors and 24 -bit/192kHz Cirrus Logic CS49400 D/A converters on all channels, massive power transformers, all -discrete current -feedback amplifier topology, and many additional refinements. The SR6400 delivers 100 watts (into 8 ohms) into each of its six main channels, and is compatible with popular 6.1 - and 5.1 -channel surround sound formats, and include proprietary TruSurround Headphone technology and Circle Surround 2 processing from SRS Labs.

The SR6400 features HD -compatible component video switching, along with an extensive complement of digital and analog audio and video inputs and outputs, including 6.1 -channel preamp outputs and 7 -channel direct inputs, to accommodate the multichannel audio outputs from players with DVD -Audio and SACD capability. In addition, the SR6400 includes an RS -232C connection for integrated system control.

Built to the same high standards as the SR7400, the SR6400 includes refinements such as metal alloy faceplates, internal components selected for maximum sonic purity and heavy -duty speaker terminals for all channels.

The Marantz SR6400 Home Theater Receiver is currently available and carries a suggested retail price of $749.00.

About D&M Holdings Inc.
D&M Holdings Inc. (TSE II: 6735) is based in Tokyo and is the parent company of wholly owned subsidiaries Denon Ltd., Marantz Japan, Inc. and McIntosh Laboratory, Inc. Denon, Marantz and McIntosh are global industry leaders in the specialist home theater, audio/video consumer electronics and professional audio markets, with a strong and long -standing heritage of manufacturing and marketing high -performance audio and video components. A wholly owned subsidiary of D&M Holdings U.S., Inc., Digital Networks North America, Inc. (DNNA), owns the ReplayTV®, Rio® and Escient® brands -all representing award -winning technologies in digital home entertainment. Additional information is available at www.dm -holdings.com.

DISCLAIMER
Statements in this news release that are not statements of historical fact may include forward looking statements regarding future events or the future financial performance of the company. We wish to caution you that such statements are just predictions and that actual events or results may differ materially. Forward looking statements involve a number of risks and uncertainties surrounding competitive and industry conditions, market acceptance for the company's products, risks of litigation, technological changes, developing industry standards and other factors related to the company's businesses.

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